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Job Cuts news from FierceFinance
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The big picture on Wall Street jobs
The downsizing of the financial services industry is proceeding via nicks, cuts and big shogun slashes. Through October, 130,000 financial jobs had been eliminated throughout the industry this year,... Read more...
The beginning of the end at Citigroup?
What to make of the additional 53,000 jobs cuts at Citigroup? The cuts, part of an on-going effort to slash the head count by 20 percent from a high of 375,000, are certainly draconian, but they will... Read more...
How bad will the Wall Street job cuts be?
The Financial Times reports that banks are finalizing their budgets for next year and that many are planning more job cuts. The number could hit 70,000, which would add to the 150,000 jobs the... Read more...
Are a lot more job cuts coming?
Have we seen the worst of financial services job cuts? Well, here's one way to look at it: If banks were bent on maintaining their compensation ratio--that is, their compensation costs as a... Read more...
How to transition your career with grace
Chances are you know a lot of hurting people right now. The industry is in one the worst down cycles of the past 20 years, and it's going to get worse before it gets better. Most of you do not have... Read more...
Wall Street firms to axe more jobs this fall?
Summer proved to be a cruel season on Wall Street. The bloodletting was fierce. But as Breakingviews notes, the picture could get even worse come fall. Historically, job cuts have been mild in the... Read more...
Wachovia turnaround underway?
The pressure is on for Robert Steel, the new CEO of Wachovia, who has raised the number of jobs the bank will cut. The AP reports that in a quarterly SEC filing, the bank... Read more...
Wall Streeters taking the hits hard
If you've been around long enough, you've seen this sort of thing before. When the bubble bursts, the job cuts come willy nilly, stealthily or not. The media latches on and pretty soon we see the
... Read more...Employment situation worsens in NYC
Recall that in March, New York City's budget office predicted that 20,000 jobs would be lost in the financial services sector. It now says that total job losses will run to 33,300 jobs, notes... Read more...
Stealth layoffs hitting Wall Street
It's not paranoia if they're really after you. And so it goes on Wall Street. Financial institutions have announced some 65,000 layoffs since summer, and people are understandably nervous. The New... Read more...
